FEEDBACK: Jimoh Ibrahim denies debt allegations, insists Union Bank actually indebted to him to tune of N140bn



Billionaire businessman and founder, Global Fleet Oil & Gas Limited, Barrister (Dr) Jimoh Ibrahim, has denied owing Union Bank of Nigeria Plc N69.4 billion, insisting on the contrary, that the lender is actually indebted to his group of companies to the tune of N140 billion.

In a response to our story yesterday: “Jimoh Ibrahim in N69.4bn debt mess…As AMCON seizes prime assets,” he said his group of companies also has £220 million deposit with Union Bank, adding that the matter has been on since 2016.

The business mogul further said that a similar order by Justice R.M. Aikawa of the Federal High Court in Lagos, was obtained in 2016 which he got the court to discharge.

Ibrahim said AMCON had filed a motion ex-parte in March and wondered how that order was obtained this month, “eight clear months after, when an ex-parte motion should be heard speedily in a matter of hours or days.”

According to him, the order granting AMCON power to take over the assets was not properly obtained, adding that AMCON was, in essence, pursuing nothing because some of the assets linked to him were not his.

Ibrahim added that AMCON got an interim order on November 5 and that an interim order lasts for 14 days, meaning that by tomorrow (November 19), the purported order would have lapsed.

He also made available a 2016 suit No: FHC/L/CS/776/16 at the Federal High Court, Lagos between the Asset Management Corporation of Nigeria (Plaintiff) and NICON Investment Limited, Global Fleet Oil and Gas and Barrister Jimoh Ibrahim (Defendants).

“Yusuf Ali (SAN), with K.K Elena (SAN) Prof What Egbewale, Dr. M.T. Adekilekun, Oluyede Oyediran Esq, Council for the plaintiff had informed the court that the nature of the dispute between the parties is commercial in nature, even as parties already have had agreement to nominate a firm of Chartered Accountants to conduct a forensic auditing on the accounts and meets at Union Bank headquarters.

“Adeniji Akintola (SAN) with Dr. Jimoh Ibrahim, Chijioke Ndubisi, Olaide Sadiq, O.O Samuel, J.O. Oriloye, Isa Adedokun, Esq and Rotayo Ogundana, Esq, Counsel for the defendants, confirming the position, applied that the ex-parte order of 4th day of June 2016 be discharged,” he stressed.

Going further, he said: “The position was also confirmed by Chief Bolaji Ayorinde (SAN) with Ade Adesina (SAN), Adebisi Iyaniwura, Adewole Adesina, Adedoyin Ologbenla, Asuzu Evaristus, Kayode Adaramewa, Dr. Damola Aderemi and Bolaga Ajayi, counsel to the applicant also confirming the position.”

The State Online had, yesterday, November 19, 2020, streamed a story with the headline: “Jimoh Ibrahim in N69.4bn debt mess…As AMCON seizes prime assets,” in which it detailed a cocktail of choice assets belonging to the Chairman/CEO of Global Fleet Group, Barrister (Dr) Jimoh Ibrahim, which have been taken over by the Asset Management Corporation of Nigeria (AMCON), over a whopping N69.4 billion debt. This is in addition to freezing the business mogul’s various accounts.

  • Tags: Jimoh Ibrahim, Union Bank, AMCON


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